China's latest rich-list of 2,030 people controlling fortunes of $300M or more now totals $2.6 trillion, as much as the UK GDP.
Topping the rich-list are a few tech billionaires, but the big, big money is in the hands of the people who led China's out-of-control, precarious real-estate bubble.
Xu Jiayin, chairman of real estate developer Evergrande Group, has emerged as China’s richest man with assets worth US$43 billion.
Last year’s leader, Wang Jianlin, dropped to fifth after declines in the share price of his embattled Wanda Group saw his family’s net worth slump 28 per cent to US$23 billion.
“Overall, the Hurun Rich List has grown faster than any year since 2007, with the possible exception of 2015,” said Rupert Hoogewerf, Hurun Report chairman and chief researcher.
China’s richest 2,130 people have as much money as the world’s fifth-largest economy
[Alun John/South China Morning Post]
(via Naked Capitalism)
Tobacco heir Johann Rupert is worth $7.5B; he's head of Cartier, Montblanc, Chloe and other luxury goods labels, having returned to the helm of his Richemont holding company after a year-long fly-fishing sabbatical; in a speech to the Financial Times Business of Luxury Summit in Monaco he revealed that he no longer sleeps at night […]
The last message Stephen Hawking posted to a public internet forum was an answer to a question in a Reddit AMA, querying how humanity will weather an age of technological unemployment.
When Donald Trump announced that he would "drain the swamp" by filling his cabinet with lobbyists, billionaires, and political operators, we all braced for an onslaught of rules that benefited the fattest of cats at the expense of everyone else, but Gary Cohn outdid himself.
Contrary to what you might think, you don’t need to be a scientist or programming prodigy to create robots and DIY electronics. Thanks to the Arduino platform, anyone can get their feet wet building wearables, R/C robots, and the like, provided they have some basic training. The Pay What You Want: 2018 Arduino Enthusiast E-Book Bundle nets […]
Companies are always looking for creative ways to reach their audiences, and oftentimes, this involves designers whipping up stunning images and photos to make the connection happen. As such, having an understanding of the industry’s leading design tools can take you far if you’re on the job hunt. The Graphic Design Certification School will familiarize you with […]
The Nintendo Switch is king when it comes to gaming on the go, but it’s tough to lose yourself in Zelda: Breath of the Wild or Skyrim if your battery dies out. That’s where this Nintendo Switch Battery Charger Case comes into play. Built exclusively for Nintendo Switch, this pack allows for uninterrupted charging while you play, […]